SEC to Reconsider Conflict Minerals Guidance

On January 31, 2017, Acting Securities and Exchange Commission (SEC) Chairman Michael S. Piwowar released a public statement directing the SEC staff to consider whether their 2014 guidance is still appropriate and whether any additional relief is appropriate. The guidance was issued by the SEC after the April 2014 D.C. Circuit Court of Appeals’ finding that a portion of the SEC’s Conflict Minerals Rule violated the First Amendment.

In an additional statement, the Acting Chairman raised questions regarding the effects of the regulation, including the negative impacts of a de-facto boycott.

The Acting Chairman has requested public comments on all aspects of the Conflict Minerals Rule and guidance through Thursday, March 16. IPC plans to submit comments, and encourages its members to do so as well. Members with questions or issues they would like to include in IPCs comments should contact Fern Abrams at FernAbrams@ipc.org.